UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported)
September
12, 2008
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SOUTHERN
MISSOURI BANCORP, INC.
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(Exact name of
Registrant as specified in its Charter)
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Missouri
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000-23406
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43-1665523
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| (State
or other jurisdiction
of
incorporation)
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(Commission
File No.)
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(IRS
Employer
Identification
Number)
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| 531 Vine Street, Poplar Bluff, Missouri | 63901 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant's
telephone number, including area code: (573)
778-1800
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under
any
of
the following provisions:
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 1 4d-2(b) under the Exchange Act (17 CFR
240.1 4d-2(b))
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Pre-commencement
communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR
240.1 3e-4(c))
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ITEM 8.01
Other Events
Southern Missouri
Bancorp, Inc. (the “Company”), currently holds 12,000 shares of non-cumulative
preferred stock issued by the Federal Home Loan Mortgage Corporation (“Freddie
Mac”). The stock was purchased in December, 2007, at an average cost
of $25.39, has a par value of $25.00, and was issued with a coupon fixed at
8.375% through the first call date of December 31, 2012 (NYSE:
FRE.prZ). After trading in a range from $2.02 to $2.32 during the day
on September 11, 2008, the preferred stock closed at $2.09. The
decline in market value is due to the placement of Freddie Mac into
conservatorship by the United States Treasury, and the coinciding announcement
that the dividend on the preferred stock shares owned by the Company has been
indefinitely suspended.
The Company has
determined that, as a result of these events, its investment in the Freddie Mac
preferred stock is other-than-temporarily impaired. The company will
record a charge for the impairment during the quarter ended September 30, 2008,
its first quarter of fiscal year 2009. The estimated pre-tax
impairment charge is approximately $300,000. Despite the impairment,
the Company and its banking subsidiary will maintain regulatory capital ratios
that are above requirements to maintain “well-capitalized” status.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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SOUTHERN
MISSOURI BANCORP, INC.
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Date:
September
15, 2008
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By:
/s/ Greg A.
Steffens
Greg
A. Steffens
President
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